Alibaba has grown from the plucky startup taking on eBay to China’s most dominant ecommerce player, and one of the most valuable companies in the world.

The company’s made plenty of statements about its aspirations, but talk is cheap.

If we really want to understand how Alibaba sees its future, it makes sense to take a look at where Jack Ma’s company is investing its money.

The following chart offers a breakdown of Alibaba’s startup investments to date, both by industry category and by country of origin, using data from our own Tech in Asia funding database.

The vast majority of its investments to date have gone to China-based startups (over 70 percent, and nearly 80 percent if you include Greater China regions Hong Kong and Taiwan) – and its favorite industries to invest in, ecommerce and logistics, have direct relevance to its existing ecommerce business.

And while those charts reflect total deal numbers over Tech in Asia’s entire historical database, looking at deal size in more recent years doesn’t suggest a major change in direction.

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